Anti-graft agency says account restriction was imposed to stop suspicious fund transfers, not to influence the August 15 governorship poll.
The Economic and Financial Crimes Commission (EFCC) has defended its decision to freeze an Osun State Government bank account, insisting the action was part of an ongoing investigation into the alleged diversion of ₦11 billion in public funds and not connected to the state’s forthcoming governorship election.
The anti-graft agency made the clarification in a statement issued on Wednesday by its Head of Media and Publicity, Dele Oyewale, following allegations by Governor Ademola Adeleke that the account was frozen to undermine his administration ahead of the August 15 governorship election.
According to the EFCC, investigations into the alleged fraudulent handling of Ecology Funds, Intervention Funds and Federal Account Allocation Committee (FAAC) allocations by the Osun State Government began in March 2026, with several government officials, including the state’s Accountant General, already questioned by investigators.
The commission explained that the account was placed on a Post-No-Debit restriction after it detected what it described as suspicious transfers of large sums of money from the government account into several corporate accounts beginning August 2, 2026.
The EFCC said the restriction was necessary to prevent further movement of public funds under investigation, stressing that it acted in line with its statutory responsibility to safeguard public resources.
The agency maintained that although it was aware of the impending governorship election, it could not ignore activities it considered capable of undermining the integrity of public finances, adding that no election should prevent it from carrying out its legal responsibilities.
The commission also disclosed that Osun State is not the only state under investigation, noting that the finances of several other state governments are also being monitored to ensure accountability and transparency.
Reaffirming its neutrality, the EFCC stated that its operations are non-partisan and guided solely by the public interest. It urged Nigerians to disregard what it described as false narratives surrounding the account restriction, insisting the action was taken to protect public funds from alleged misappropriation.
Governor Adeleke had earlier accused the EFCC of freezing the state’s account without a court order, describing the move as unconstitutional and a threat to democratic governance.